Is the BBC Avoiding Critical Topics Like U.K Bankruptcy?

chucky

purch wrote: »

1. The U.K. will go/is Bankrupt :eek:
2. Sterling will devalue hugely :eek:
3. Everyone's savings will be wiped out :eek:
4. It's all back to normal by 2010 and we can all buy Houses again :j

is !!!!!! back!?

setmefree2

chucky wrote: »

is !!!!!! back!?

Well chrisweb seems to have the same investment strategy as !!!!!! exactly - but maybe that's because of all the "group think" on HPC.

Funny that all the HPCers are going to buy in 2010 - the antithesis of Warren Buffet's mantra "Be greedy when others are fearful; be fearful when others are greedy"....

The HPCers are all going to be greedy together in 2010 "Be fearful when others are fearful, be greedy when others are greedy" LOL

chrisweb

I guess if I have an opinion here that is different to others then I just get insulted, have my words twisted to statements which I'm not even saying or even agree with etc. I think that sums you guys up. It is making it really hard to have an intelligent debate.

SetMeFree partially excluded At least he's coming out with some intelligence, sharing sources and facts etc, even if he tries to put words in my mouth and label me as a HPC user (which I'd never heard of until 2 days ago).

The economist article is interesting. Whatever way you look at stats like these are not good, whether they spell bankruptcy or not - it puts the country in a bad position - maybe not the worst, but not good.
More so when the U.K has the worst ratio out of G10 nations:
http://alphaville.ftdata.co.uk/lib/inc/getfile/4398.jpg

1. The U.K. will go/is Bankrupt :eek:

I think an IMF bailout is a possibility.Not a certainty.

2. Sterling will devalue hugely :eek:

Not convinced of this in the short term (1-2 years) due to deflationary environment, although expect it may weaken slightly against dollar as U.S has more debts disappearing so its money supply is likely to be reduced more significantly. I think devaluation of currency will be needed to handle large debts, but other countries will be doing that too so it doesn't necessarily mean sterling will crash against other currencies. But on the whole I'm very unsure about this so I'm trying to diversify to spread risk.

3. Everyone's savings will be wiped out :eek:

In the short term savings will strengthen due to deflation which some have predicted lasting up till 2016 - so cash is king. Longer term I'm not sure, but inflation is obviously going to return, it just depends how intense and I think that is open to large debate.

4. It's all back to normal by 2010 and we can all buy Houses again

See below on house prices. But I doubt economy will be normal by 2010, I doubt we will see a new housing boom anytime soon if that's what you consider normal.

---

For those that seem to think 2010 is a bad time to buy a house, when do you think is a good time?

I'm personally thinking this outcome is the most likely:
http://www.marketoracle.co.uk/images/2008/uk-house-price-forecast2009-nov08.gif

So end of 2010 is earliest, but would of course re-evaluate as things change.

Wookster

chrisweb wrote: »

I guess if I have an opinion here that is different to others then I just get insulted, have my words twisted to statements which I'm not even saying or even agree with etc. I think that sums you guys up. It is making it really hard to have an intelligent debate.

I'm afraid there is a hardcore of people - StevieJ, Chucky, Really2 and nowadays Rochdale (who did seem to be able to hold a reasoned debate at some point) who are hell bent of playing with the wrecking ball if you have a more pessimistic view of the state of affairs.

chucky

Wookster wrote: »

I'm afraid there is a hardcore of people - StevieJ, Chucky, Really2 and nowadays Rochdale (who did seem to be able to hold a reasoned debate at some point) who are hell bent of playing with the wrecking ball if you have a more pessimistic view of the state of affairs.

that's rubbish - but it's always a good ploy by you when you are losing your "britain is doomed" argument.

the UK is not doomed and if you can tell me a country (apart from the US) better positioned to ride out the economic storm - let me know...

and CrisWeb - it would help if you did more research before you posted the Britain is doomed stuff because these articles are frequently floored like Setmefree has explained to you here and your " The Money Pyramid - How the Money Supply has Grown" thread which again provided incorrect information just to piant a 'doom monger" article by the journalist.

otherwise please feel free for to continue these threads/posts and expect them to be knocked and ripped apart for what they are.

MrFonzerelli

This below Eurostat graph (Rochdale would be proud) is perhaps a good indicator of default risk. Higher risk being linked to higher reward.
http://epp.eurostat.ec.europa.eu/guip/introAction.do?profile=cpro&theme=eurind&lang=en

lostinrates

purch wrote: »

I guess you missed the wink

LOL, yes, sorry, I was probably blinking

Wookster

In addition to my post above, I have put all of the wreckers on ignore, simply because they aren't interested in a reasoned discussion, they will just resort to calling you names or saying that you are using multiple logins or a sock puppet.

The rare occasion I have actually looked at one of the posts, its just made me glad they are all on ignore.

Rochdale_Pioneers

Wookster wrote: »

I'm afraid there is a hardcore of people - StevieJ, Chucky, Really2 and nowadays Rochdale (who did seem to be able to hold a reasoned debate at some point) who are hell bent of playing with the wrecking ball if you have a more pessimistic view of the state of affairs.

Hardly - the wrecking ball is being wielded by you lot shrieking about bankruptsy. There is far more evidence from far more verifiable sources that we're NOT going bust than there is that we are going bust.

Can you imagine what would happen if the BBC did what chriswebb is demanding? News bulletins that report the latest piece of doom-laden gossip as fact? Commentators paid to write pessimist pieces elevated as experts above such pro-government liars as The Economist, the OECD, the EU, the IMF etc etc? What you'd get is mass panic in the markets and a stampede away from Britain for no other reason than perception.

Out in the real world you have got some basket case countries who are as screwed as you'd like Britain to be - Austria the latest one joining Ireland and Iceland as sunk, with Germany and Japan and China facing a catastrophic drop in demand for their export-based economies. Why on earth do you want to try and spin Britain's position as being worse than them? Or than America - where the numbers having to be fed on federal and charity food aid is soaring?

Those of us who are worried about the economy but keeping a balanced view get so fed up with people like you because you seem desperate to talk Britain down. You see rising unemployment as a bonus, bankruptsies as a positive and the concept of an IMF bailout as a wet dream. You have no real interest in your country or the people who are its citizens - you'd happily throw them on the fire to score cheap political points.

Who is wielding the wrecking ball? Those of us interested in seeing Britain stay afloat? Or those of you desperate to sink it?

Rochdale_Pioneers

Wookster wrote: »

In addition to my post above, I have put all of the wreckers on ignore, simply because they aren't interested in a reasoned discussion, they will just resort to calling you names or saying that you are using multiple logins or a sock puppet.

The rare occasion I have actually looked at one of the posts, its just made me glad they are all on ignore.

He's ignoring me because I disagree with him. The words petulant child spring to mind.